Palladium in the IRA - is it a good move for diversification?
- •Been thinking a lot lately about diversifying my precious metals a bit more beyond just gold and silver.
- •It's grown nicely, probably sitting around $300k now with the metals prices going up.
- •Seeing all the economic uncertainty, I'm always looking for ways to shore things up.
Been thinking a lot lately about diversifying my precious metals a bit more beyond just gold and silver. I've had a Gold IRA with Augusta Precious Metals for about 5 years now, started with around $200k rolled over from an old 401k when I retired from the dairy co-op. It's grown nicely, probably sitting around $300k now with the metals prices going up. Seeing all the economic uncertainty, I'm always looking for ways to shore things up.
Palladium has been on my radar, mainly because it's such a critical industrial metal, especially in auto catalysts. My son-in-law is in manufacturing down in Janesville and he keeps bringing it up. Seems like there's always demand for it, and the supply chain issues we've seen globally just make me think those kinds of essential metals are only going to become more valuable. But it's also got a wild price history, way more volatile than gold, that's for sure. I remember watching it spike crazy high a few years back, then dip. It’s got me wondering if adding it to my IRA is a smart play for a portion of my holdings or if it's just asking for a headache.
Anyone here have palladium in their self-directed IRA? Or has anyone looked into it and decided against it? What were your reasons? I'm thinking about perhaps allocating 5-10% of my precious metals holdings to it. It wouldn't be a huge chunk, but enough to make a difference if it performs well. Just trying to figure out if the potential for higher returns outweighs the increased volatility, especially within a retirement vehicle. Any practical advice or experiences would be appreciated.